Is the experience requirement to get into PE just a gating factor or an actual necessity?
Asking in regards to a mid-level PE role. It appears to me that between taking online courses by the likes of WSO/WSP, reading materials, investor presos by PE firms, stuff you learn from others via the forum here, etc... you can learn so much of PE (maybe 80% of it?) without having worked in the industry per se, at least the process and mechanics stuff.
The mechanics as you say are easy to understand at a high level from courses and forums. The nuance and judgement required to deal with the messy reality of deal doing can best be learned from others with practical experience.
This is why PE is considered an apprenticeship where you learn the art from others who have been doing this for 20+ years.
100% gating factor
I have a bunch of exits and run a few decent size cos and doubt I could get a job in PE. Recruiting is way too structured VS something like tech.
Maybe I could dm a few friends running funds but even then idk.
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